Tax Law News. Crime Stories, Law on News and Legal Publications in November, 2011

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Impact of circle rates
Times of IndiaNovember 1, 2011

There are several reasons for this, like the stricter general power of attorney norms as well as higher stamp duty. The financier's profit margin is smaller in this scenario," added GP Tiwari (name changed), who invests in real estate. ...more »

Dispute delays revenue-sharing payouts
USA TodayNovember 1, 2011

The money involved is substantial because the league collected roughly $200 million (12.4% of each contract's face value) from players, and probably three-quarters of that money will be returned to players. Ten teams qualify for revenue sharing, ...more »

Tax Law News and Stories

Audit Defence
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An expat's guide to 5 ways to survive a tax audit
ReutersNovember 4, 2011

HONG KONG (Reuters) - Think a US IRS tax audit is stressful at home? Try doing it from halfway round the world. This point was driven home to me at 5 am one recent morning -- before my first espresso -- as I discussed abstruse ...more »

Irs Filing & Compliance
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The Accounts Payable Network Announces Comprehensive Webinar Training for 1099 ...
MarketWatch (press release)November 7, 2011

While many organizations are reducing head count, the IRS has hired thousands of new employees to audit businesses. Penalties for 1099 errors have doubled and the maximum fines have escalated even more. It is more important than ever to understand the ...more »

Business Audit Defence
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Comparing Cain's 9-9-9 and Perry's Cut, Balance and Grow Plans
Big GovernmentNovember 1, 2011

He said he didn't think they needed an audit! He said that IF they DID an audit they wouldn't find anything! He said that if he was elected to the highest office in our land…he…as the President would not call for an audit but would not stop one…if ...more »

Personal Irs Disputes
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Lawyer acquitted of misusing Phila. minority business aid, convicted of ...
Philadelphia InquirerNovember 8, 2011

A personal-injury lawyer, Mikel Jones obtained a $750000 credit line in 2006 from a New York lender, Stillwater Capital. Later increased to $1.75 million, it was supposed to be used for legitimate business expenses. Stillwater released a total of ...more »

Property Taxes
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Santarsiero seeks tax exemption for spouses of vets killed in action
phillyBurbs.comNovember 11, 2011

Santarsiero is garnering support for House Bill 1929, which would exempt surviving spouses of Pennsylvania military personnel killed in action from residential property taxes. "We can never repay what they have done for us," he said of service members ...more »

Corporate Income Taxes
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Entergy Reports Third Quarter Earnings
MarketWatch (press release)November 1, 2011

In New York, the hearing before Administrative Law Judges of the New York State Department of Environmental Conservation is under way and expected to continue into 2012," said J. Wayne Leonard, Entergy's chairman and chief executive officer. ...more »

Sales Tax & Use Tax
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Dayton rejects stadium sales tax
Minneapolis Star TribuneNovember 2, 2011

Under that plan, the state would have chipped in $300 million, the team would have paid $420 million and the county would have kicked in $350 million through a half-cent countywide sales tax. A grass-roots group of Ramsey County residents upset about ...more »

Estate Taxes & Gift Taxes
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H&R Block Can't Proceed With TaxAct Maker Deal, US Judge Rules
BusinessWeekNovember 1, 2011

1 (Bloomberg) -- H&R Block Inc. was barred by a federal judge from proceeding with its proposed $287.5 million acquisition of the maker of TaxAct products because it would diminish competition in the tax preparation market. ...more »

Tax Evasion Defence
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Former Marion County school superintendent arrested for tax evasion
SCNowNovember 7, 2011

... willful attempt to evade income taxes. Nathaniel Miller, previously employed by Richland County School District 1 and most recently, Marion County School District 2, failed to accurately report income received during 2005 - 2009 as required by law. ...more »

International Taxation
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Shorten cues tax law change after legal defeat
The AustralianNovember 1, 2011

Mr Shorten said "the government is taking action to ensure that multinationals pay the correct amount of tax in Australia on their income and to provide certainty on our transfer pricing laws".more »

Tax Planning
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Tax Authority Repeats Blockbuster Introduction to International Taxation
PR Newswire (press release)November 1, 2011

(His follow-up Intermediate International Tax webinar will be conducted on November 16, 2011.) Be familiar with the controlled foreign corporation regime foreign tax credit rules. Identify situations where international tax planning can add value to ...more »

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